Midfielder Ross Barkley has been selected in Roy Hodgson's England squad for the World Cup, with his teenage Everton team-mate John Stones on standby.

Barkley, 20, who has three caps, is joined by Southampton trio Rickie Lambert, Adam Lallana and Luke Shaw.

Manchester United's Michael Carrick and Chelsea's Ashley Cole have been left out of a youthful squad of 23.

"There were a number of decisions which were not easy to make," said Hodgson.

"I hope the squad will give a good account of itself and they won't let the country down.

"Do I believe the squad can win the World Cup? Yes, otherwise what is the point of taking a squad to the World Cup. But they are empty words as, if you ask other coaches, they will say the same."

England begin their World Cup campaign against Italy in Manaus on 14 June, before further group matches against Uruguay and Costa Rica.

Hodgson confirmed centre-back Stones, 19, will replace Phil Jones if the Manchester United player fails to recover from a shoulder injury.

Stones is joined by Liverpool defender Jon Flanagan, 21, Norwich goalkeeper John Ruddy, West Ham striker Andy Carroll, Toronto forward Jermain Defoe, Carrick and midfielder Tom Cleverley on a standby list of seven players.

Carrick, 32, who has won 31 caps and last featured for his country against Poland in October, said on Twitter:  "Disappointed to be left out of the squad, World Cups are special and to miss out hurts. Want to wish the boys the very best of luck."

Liverpool, who finished second in the Premier League, are the most represented club in the squad, with five players in Hodgson's 23.

West Brom goalkeeper Ben Foster has been selected alongside Celtic's Fraser Forster as cover for number one Joe Hart. Foster, who made himself unavailable for international football between May 2011 and February 2013. has not started for his country since 2010.

Hodgson has also included Liverpool winger Raheem Sterling, 19, Reds midfielder Jordan Henderson, 23, Manchester United defender Jones, 22, Arsenal's Alex Oxlade-Chamberlain, 20, and Jack Wilshere, 22, in a relatively inexperienced squad.

Chelsea's veteran midfielder Frank Lampard, 35, has been included, with captain Steven Gerrard, 33, Phil Jagielka, 31, Lambert, 32, and Foster, 31, the only other over-30s in the squad. Only six of the squad have been to a World Cup before.

"Frank has been the captain of the team at times during my two years and vice-captain to Steven Gerrard," said Hodgson. "He still plays a very important role in his club side and his leadership qualities and ability as a player mean he fully justifies his position.

"We are not thinking about Euro 2016. That is a long way off. This tournament means everything to us. We want to do very well in it so our focus is on this tournament.

"I refute any claims that some of these players have been selected because of 2016. They are selected because of 2014 and I think that they can do well."

Arsenal midfielder Oxlade-Chamberlain has been picked despite not playing since 20 April because of a groin injury, while his Gunners team-mate Wilshere has recovered from a foot injury.

There had also been doubts over the fitness of Manchester United pair Wayne Rooney, 28, and Jones after their struggles with groin and shoulder injuries respectively.

Both players missed their side's final Premier League match at Southampton, although interim United manager Ryan Giggs said they would be fit for the World Cup and they have been selected.

Tottenham defender Kyle Walker, 23, who has played 10 times for the national side, has not been selected after being ruled out with a pelvic injury since 13 March. His absence means this is the first time since 1954 that Tottenham have not had a player in an England World Cup squad.

Walker said on Twitter:  "Gutted to miss the World Cup because of my injury. I'm still a few weeks away from being fit so I understand why the gaffer has left me out. We're taking a strong group of players to Brazil. All the best boys, I'll be supporting you!."

Barkley made his England debut in the 4-0 World Cup qualifying win over Moldova in September and has impressed for Everton in the Premier League this season.

He has made 38 club appearances this campaign, scoring seven goals, helping the Toffees to Europa League qualification.

Stones earns a place on the reserve list despite not figuring in any of Hodgson's previous squads and only making his Premier League debut in September. He moved to Goodison Park from Barnsley in January 2013.

Chelsea left-back Cole retired from international football on Sunday after being told Southampton's 18-year-old Shaw had been selected in his place.

Shaw, reportedly the subject of a £27m bid from Manchester United, made his England debut in March.

Hodgson said: "One player has 107 caps and one has many caps to come. It was a hard job to ring Ashley and I can only be unbelievably grateful for the gracious way he accepted the decision.

"Circumstances will prove whether the decision to take the younger player was the right one or not."

Shaw's Saints team-mates Lallana and Lambert will also be experiencing a major tournament for the first time.

Midfielder Lallana, 26, is the subject of a bid from Liverpool after scoring 10 goals in 42 appearances this season and earning three England caps.

Lambert was selected ahead of West Ham striker Andy Carroll, who has been named in reserve.

England will play a friendly at Wembley against Peru on 30 May and Hodgson then has to confirm his final 23-man squad selection on 2 June.

After that, the national side will play Ecuador on 4 June and Honduras on 7 June in two friendlies, both of which will be played in Miami, before the World Cup starts on 12 June.

England squad:

Goalkeepers: Fraser Forster (Celtic), Ben Foster (West Bromwich Albion), Joe Hart (Manchester City).

Defenders: Leighton Baines (Everton), Gary Cahill (Chelsea), Phil Jagielka (Everton), Glen Johnson (Liverpool), Phil Jones (Manchester United), Luke Shaw (Southampton), Chris Smalling (Manchester United).

Midfielders: Ross Barkley (Everton), Steven Gerrard (Liverpool), Jordan Henderson (Liverpool), Adam Lallana (Southampton), Frank Lampard (Chelsea), James Milner (Manchester City), Alex Oxlade-Chamberlain (Arsenal), Raheem Sterling (Liverpool), Jack Wilshere (Arsenal).

Forwards: Rickie Lambert (Southampton), Wayne Rooney (Manchester United), Daniel Sturridge (Liverpool), Danny Welbeck (Manchester United).

Standby: John Ruddy (Norwich City), Jon Flanagan (Liverpool), John Stones (Everton), Michael Carrick (Manchester United), Tom Cleverley (Manchester United), Andy Carroll (West Ham United), Jermain Defoe (Toronto FC).